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Moderna MRNA Grant revenue — Total Revenue

Other product segments

Stand-ready manufacturing revenue
$32M+167%
Collaboration Arrangement, Including Arrangements With Affiliate
$5M+400%
Licensing and royalty revenue
$0-100%

Similar metrics at other companies

Vir Biotechnology, Inc. logo
VIRGrant revenue — Total revenues
$12K-99.0%
Organogenesis Holdings Inc. logo
ORGOGrant — Revenue
$978K
Kopin logo
KOPNGrant — Revenue
$3.44M+1,505%
Celldex Therapeutics logo
CLDXGrant — Revenue
$15K-97.7%
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KOPNGrant Income — Revenue
$3.44M+1,504%
CRISPR Therapeutics logo
CRSPGrant — Revenue
$458K-47.1%

Other financials

Income statement

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Revenue$389.0M+260%
Gross profit-$566.0M-3,244%
Operating income-$1.4B-32.2%
Net income-$1.3B-38.3%
EPS (diluted)-$3.40-34.9%

Balance sheet

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Cash & equivalents$1.9B+17.4%
Total debt$1.3B+71.9%
Total equity$7.4B-26.4%
Total assets$11.5B-9.6%

Cash flow

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Operating cash flow-$630.0M+39.2%
CapEx$62.0M-47.0%
Free cash flow-$692.0M+40.0%

Valuation

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Market cap$27.09B+115%
Enterprise value$26.51B+120%
P/S12.2×+8.1×

Profitability

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Gross margin22.1%-32.0pp
Operating margin-153.3%+67.8pp
Net margin-143.6%+80.2pp
FCF margin-132.4%

Returns & leverage

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Return on equity-36.6%+11.9pp
Debt / equity0.2×+0.1×
Current ratio2.4×-1.8×

Where this comes from

Reported directly by Moderna in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The official record: Moderna’s 10-Q, filed May 1, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Moderna's grant revenue — total revenue?
Moderna (MRNA) reported grant revenue — total revenue of $0 in Q1 2026.
How has Moderna's grant revenue — total revenue changed year-over-year?
Moderna's grant revenue — total revenue decreased by 100.0% year-over-year, from $1M to $0.
What is the long-term trend for Moderna's grant revenue — total revenue?
Over 3 years (2021 to 2025), Moderna's grant revenue — total revenue has grown at a -69.0% compound annual growth rate (CAGR), from $735M to $22M.
What does grant revenue — total revenue mean?
This represents the total recognized revenue derived from government or private research grants within a specific business segment. It reflects the financial support received for research and development activities that do not constitute standard commercial product sales. This metric is critical for assessing the company's ability to secure non-dilutive funding for its pipeline development.